A report from Rockaway_X and dealroomco showed that European crypto startups raised a record $5.7 billion in VC funding last year despite the severe market turbulence. BrandyBetz reports
from blockchain-focused venture capital firm RockawayX and startup data provider Dealroom shows that one region still managed to achieve record-setting investment levels in 2022.
European crypto startups raised a record $5.7 billion in VC funding last year, up from $5 billion in 2021, according to the latest State of European Crypto VC Funding report. The investment cycle followed the global trend of peaking in the second quarter and declining sharply in the first quarter of this year. Web3 remained a key sector of interest, while the fastest growth vertical was infrastructure, including developer tooling, blockchain scalability solutions and layer 1 blockchains.
“With an increasingly hostile US regulatory environment, crypto industry onlookers speculate that the space’s center of gravity may shift, taking funding and innovation to other regions. This data suggests that the foundation exists for Europe to be a key beneficiary,” said RockawayX CEO Viktor Fischer in the press release.
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